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Trends & Analysis
News

PepsiCo posts earnings beat, but misses on sales

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Trends & Analysis
News

PepsiCo posts earnings beat, but misses on sales

News

Crude oil spikes after US inventories data

News

Risks on the horizon for the S&P 500?

News

GBP/USD retreats after hitting 1-month high

News

US dollar recovers from last week’s losses

News

Should you own Meta Platforms or Alphabet?

Weekly Market Preview

Week Ahead Preview:

30th of October

Friday, Oct 27, 2023

At its latest meeting, the European Central Bank, as anticipated, decided to maintain interest rates unchanged at 4%. However, there was no explicit clarification on the potential strategy of not reinvesting the maturing PEPP bonds in the upcoming year.

The ECB President Christine Lagarde did mention that this matter hadn’t been discussed, but she emphasized that the central bank’s monetary policy is closely linked to European inflation levels. This statement effectively left the possibility of interest rate hikes at any time on the table. She also made it clear that contemplating interest rate cuts was far too premature.

This approach by the ECB is expected to be mirrored by the Federal Reserve and the Bank of England. It is anticipated that the Fed will keep interest rates unchanged at its meeting and reiterate its alignment of monetary policy with US inflation trends. This sentiment is likely to echo at the Bank of England’s meeting this week.

The focus in the current week is on a series of influential economic data, with the US jobs data report for October taking centre stage. This report will provide deeper insights into the state of the US labour market. The market expects the US economy to have added 172,000 jobs in October. Any figure falling below this expectation would be reassuring for investors, as it would suggest a potential slowdown in the current strength of the labour market.

 

Economic Data Highlights

 

Monday 30th of October
  • AUD- Retail Sales (Sep)
  • EUR- Inflation rates (Germany-Oct)
Tuesday 31th of October
  • JPY- Industrial Production (SEP)
  • Bank of Japan rate decision
  • CNY- Manufacturing and services sectors PMI flash (Oct)
  • EUR- Retail Sales (Germany-Sep)
  • EUR- Inflation rates (Oct)
  • CAD- GDP (Aug)
  • USD- Consumer confidence (Oct)
Wednesday 1st of November
  • NZD- Unemployment rates (Q3)
  • USD- ADP private employment (Oct)
  • USD- ISM Manufacturing PMI (Oct)
  • US Oil inventories
  • Fed interest rate decisions and the Fed Chair Powell press conference
Thursday 2nd of November
  • GBP- Housing price index (Oct)
  • CHF- Inflation rates (Oct)
  • EUR- Unemployment rates (Germany-Oct)
  • Bank of England rates decision
Friday 3rd of November
  • CAD- Unemployment rates (Oct)
  • USD- Non-Farm payrolls (Oct)
  • USD- Unemployment rates (Oct)
  • USD-ISM service sector PMI (Oct)

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